By LAS VEGAS, June 12, 2020 /PRNewswire/ — NS8, an online fraud prevention company, announced the company has successfully closed $123 million in venture funding led by Lightspeed Venture Partners and AXA Venture Partners (AVP).
With this investment, NS8 will accelerate product development and expand its global reach with an increased focus on growing its vast partner network. The company has grown from 50 to over 200 employees within the last year, and hiring continues across sales, engineering, marketing, and infrastructure.
Lightspeed’s investment provides NS8 with access to the firm’s expansive global network, as well as a team of operators and advisors to help navigate challenges, build world-class teams, and support the company’s continued growth at all stages.
“Online fraud prevention has grown rapidly due to the acceleration of ecommerce adoption by merchants and, with it, an increased threat of those seeking to attack online stores. Merchants of all sizes need to invest in security products to ensure a safe and secure online experience,” said Bradley Twohig, Partner at Lightspeed Venture Partners. “NS8’s platform allows its partners and their merchants to stand up a full-service fraud prevention hub, in a matter of a day, across almost every ecommerce platform. The time to value is simply best in class.”
AVP has significant experience helping scale companies that leverage differentiated technology and efficient business models to drive innovation in enterprise software, fintech, consumer and digital health. With offices in North America, Europe, and Asia, AVP can also help NS8 accelerate its global expansion.
“NS8 has built a market-leading fraud detection and prevention platform combining advanced data analytics with real-time scoring. NS8’s rapid growth is a testament to the strength of the company’s product and the value NS8 delivers to its customers,” said Alex Scherbakovsky, General Partner at AXA Venture Partners and NS8 board member. “We are excited to partner with Adam and the NS8 team to scale the business globally.”
Throughout the recent global pandemic, NS8 continues to emerge as the fastest growing industry leader, with year-over-year revenue growth of 200 percent and a dedicated focus on aiding online vendors to make fraud decisions that protect their customers and their bottom line.
“Thanks to this investment from Lightspeed, AXA Venture Partners, and our full backing group, we can continue to scale to meet the growing demand for fraud prevention technology in the global marketplace,” said NS8 CEO Adam Rogas. “This partnership positions NS8 to empower even more businesses with enterprise-level fraud defenses, regardless of size or industry.”
About NS8
NS8 is a comprehensive fraud prevention platform that combines behavioral analytics, real-time scoring, and global monitoring to help online businesses minimize risk. Its patented scoring technology provides actionable data about the type, quality, and trustworthiness of transactions, which businesses leverage to automate fraud management workflows to suit their individual needs. NS8 is headquartered in Las Vegas, with regional offices located in San Francisco, San Ramon, Miami, Amsterdam, Singapore, and Melbourne. www.ns8.com
Crowell & Moring LLP served as legal counsel to NS8 in the fundraising transaction.
About Lightspeed Venture Partners
Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise and Consumer sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 400 companies globally, including Snap, Nest, Nutanix, AppDynamics, MuleSoft, OYO, Guardant, StitchFix, and GrubHub. Lightspeed and its affiliates currently manage $10.5B across the global Lightspeed platform, with investment professionals and advisors in Silicon Valley, Israel, India, China, Southeast Asia, and Europe. www.lsvp.com
About AXA Venture Partners
AXA Venture Partners (AVP) is a global venture capital firm investing in high-growth, technology-enabled companies. AVP has built, in less than five years, a unique investment platform specialized in tech investments with $800 million of assets under management through three pillars of investment expertise: early stage, growth stage, and fund of funds. To date, AVP has invested in more than 45 companies and more than 15 funds. The AVP team operates globally with offices in San Francisco, New York, London, Paris, and Hong Kong. Beyond investments, AVP provides unique access to business development opportunities helping portfolio companies to scale globally and accelerate their growth. www.axavp.com
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